Sears Holdings Corporation provided earnings guidance for the fourth quarter and full year ended January 6, 2014. For the quarter, the company expected consolidated Adjusted EBITDA, which excludes certain significant items will be between negative $65 million to positive $65 million, as compared to $429 million in last year's fourth quarter. Net loss attributable to company shareholders for the quarter ending February 1, 2014 expected to be between $250 million and $360 million, or between $2.35 and $3.39 loss per diluted share. This includes $41 million of pension expense, $29 million for store closures and severance and $12 million from gains on sales of assets. Adjusted for these items, net loss is expected to be between $213 million and $316 million, or between $2.01 and $2.98 loss per diluted share. The ranges exclude the impact related to the Sears Canada real estate transactions previously announced, restructuring activities including severance, store closings and impairment charges, an estimated non-cash charge of approximately $145 million related to the establishment of an additional valuation allowance against state separate entity deferred tax assets, as well as other tax related matters and any non-cash impairment charges for fixed assets.

For the full year, consolidated Adjusted LBITDA expected to be between $284 million and $414 million, as compared to adjusted EBITDA of $626 million last year. Net loss attributable to company shareholders expected to be between $1.3 billion and $1.4 billion, or between $11.85 and $12.88 loss per diluted share. After adjusted items, net loss is expected to be between $811 million and $914 million, or between $7.64 and $8.61 loss per diluted share. The ranges exclude the impact related to the Sears Canada real estate transactions previously announced, fourth quarter restructuring activities including severance, store closings and impairment charges, an estimated non-cash charge of approximately $145 million related to the establishment of an additional valuation allowance against state separate entity deferred tax assets, as well as other tax related matters and any non-cash impairment charges for fixed assets.

The company reported comparable store sales results for the quarter-to-date and year-to-date periods ended January 6, 2014. For the quarter-to-date period, the company reported total domestic comparable store sales for the quarter-to-date period declined 7.4%, comprised of decreases of 5.7% at Kmart and 9.2% at Sears Domestic.

For the year-to-date period, the company reported total domestic comparable store sales for the quarter-to-date period declined 3.9%, comprised of decreases of 3.7% at Kmart and 4.2% at Sears Domestic.